NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Antonio Bento

Sol Price School of Public Policy
and Department of Economics
University of Southern California
Los Angeles, CA 90089-0626
Tel: (213) 82101762

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
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NBER Program Affiliations: EEE
NBER Affiliation: Research Associate
Institutional Affiliation: University of Southern California

NBER Working Papers and Publications

September 2019Estimating the Costs and Benefits of Fuel-Economy Standards
with Mark R. Jacobsen, Christopher R. Knittel, Arthur A. van Benthem: w26309
Fuel-economy standards for new vehicles are a primary policy instrument in many countries to reduce the carbon footprint of the transportation sector. These standards have many channels of costs and benefit, impacting sales, composition, vehicle attributes, miles traveled and externalities in the new-car fleet, as well as the composition and size of the used fleet. We develop a tractable analytical framework to examine the welfare effects of fuel-economy standards, and apply it to the recent government proposal to roll back fuel-economy standards. We find that our combined, multi-market vehicle choice model implies that the proposal would increase the size of the vehicle fleet over time, and also generates smaller welfare gains than models with a less rich structure of the vehicle market, ...
Estimating the Costs and Benefits of Fuel-Economy Standards
with Mark R. Jacobsen, Christopher R. Knittel, Arthur A. van Benthem
in Environmental and Energy Policy and the Economy, Matthew Kotchen, James H. Stock, and Catherine Wolfram, editors
Fuel-economy standards for new vehicles are a primary policy instrument in many countries to reduce the carbon footprint of the transportation sector. These standards have many channels of costs and benefit, impacting sales, composition, vehicle attributes, miles traveled and externalities in the new-car fleet, as well as the composition and size of the used fleet. We develop a tractable analytical framework to examine the welfare effects of fuel-economy standards, and apply it to the recent government proposal to roll back fuel-economy standards. We find that the rollback proposal suffers from inconsistencies due to a piecemeal equilibrium analysis; central parts of the model used to analyze the proposal do not feed back into others. We stress the importance of instead using a combined, m...
April 2017The Effect of Fuel Economy Standards on Vehicle Weight Dispersion and Accident Fatalities
with Kenneth Gillingham, Kevin Roth: w23340
The firm response to regulation is seldom as controversial as in the context of fuel economy standards, a dominant policy to reduce emissions from vehicles worldwide. It has long been argued that such standards lead to vehicle weight changes that increase accident fatalities. Using unconditional quantile regression, we are the first to document the effect of the Corporate Average Fuel Economy (CAFE) standards on the vehicle weight distribution. We find that on net CAFE reduced fatalities, with lowered mean weight dominating increased dispersion. When monetized, this effect suggests positive net benefits from CAFE even with no undervaluation of fuel economy.
 
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